IGT Signs ‘Wheel of Fortune’ Licence Extension with Sony Pictures
UK-based casino game developer International Game Technology (IGT) this week announced it has extended its licensing agreement with Sony Pictures Television for the Wheel of Fortune brand.
The deal will see IGT continue to use Wheel of Fortune branding on its popular jackpot slot series, seen across many US casinos, for at least another 10 years.
The contract will run from the expiry of the current lease on January 1, 2025, until December 31, 2034.
Wheel of Fortune is the longest-running television game show in US history. It has aired continuously since January 1975.
IGT acquired the licence to use the Wheel of Fortune brand in slot and lottery games in 1996. It has been one of the most popular slot brands in US casinos ever since, paying out more than $3.5 billion in jackpots over its 27-year run.
World Class Games
“We are thrilled to be extending our longstanding partnership with IGT,” Sony Pictures Television Executive Suzanne Prete said in a joint press release.
“This landmark agreement guarantees that casino and lottery players around the world can enjoy world-class Wheel of Fortune-themed games for years to come.”
IGT has produced more than 300 different physical slot machines for US casinos under the Wheel of Fortune brand. It also partnered with BetMGM to launch a Wheel of Fortune slots focused online casino in New Jersey earlier this year.
Wheel of Fortune slots are popular with players for their impressive, networked jackpot potential.
Let’s take the 1100 $1-million-plus jackpot winners figure provided by IGT. Dividing that over 27 years of operation gives a rough figure of 40 million-dollar-plus jackpot winners every year.
Just last December, Wheel of Fortune slots in Las Vegas paid out more than $5 million to three lucky jackpot winners over just three days.
First, one player won a little more than $1 million at The Golden Nugget on December 1.
Two days later, December 3, another $1 million winner hit at The Venetian. Then, on that same day, an extra lucky player bagged just shy of $3 million playing Wheel of Fortune Triple Hot Red 7s at the Hollywood Resort and Casino.
“In securing exclusive gaming, lottery, iGaming and iLottery access to the Wheel of Fortune brand through 2034, IGT can maximize the returns of this licensing partnership and advance our legacy of creating omnichannel Wheel of Fortune games that generate demand and award prolific jackpots,” said IGT Chief Financial Officer Renato Ascoli.
Wide Area Progressives
IGT also this year released a Wide Area Progressive Jackpot system for players in New Jersey, under the Wheel of Fortune brand.
Progressive jackpots work by taking a percentage of each bet on the game and putting that into the growing jackpot fund.
Wide Area Progressives combine the progressive jackpot fund from land-based slot machines and online games. That means the prize pot builds up quicker.
This new Wheel of Fortune wide area jackpot seeds at $500,000 and covers more than fifty online and land-based slot games.
In other recent news involving IGT, the company was recently part of a $419 million settlement over a class action lawsuit against it and its former social casino subsidiary, DoubleDown.